Comment on Notice under Section 139(9)? - Possible reason

Thanks Nithin for great article,

Can you please help me as I get notice u/s139(9). I did intraday trading.

For computing turnover we will take intraday profit/loss or tradewise profit/loss ?

My Intraday profit/loss was 46000 so if instead of auditing books i presume 8% income i.e. approx 4000 and tax would be around $400. Does that resolve my issue. or i need to get audited books of account

Please advice

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